In a report published Thursday, Morgan Stanley analyst Drew Venker downgraded Halcon Resources (NYSE: HK) from Overweight to Underweight, and lowered the price target from $14.00 to $4.00.

In the report, Morgan Stanley noted, “Halcon discounts credit for large resource potential that has significant geologic risk. The 2014 growth outlook is at risk, in our view, which makes us more cautious than the Street.”